RBI grants in principle approval for 3 applicants to set up TReDS

Q.  RBI on 24th November 2015 granted in principle approval to three applicants to establish and operate TReDS. What does TReDS stand for?
- Published on 30 Nov 15

a. Trading Receivables Discounting System
b. Trade Receivables Discounting Schedule
c. Trade Receivables Discounting System
d. None of the above

ANSWER: Trade Receivables Discounting System
 
Reserve Bank of India in November 2015 has granted in principle approval to three following applicants to establish a Trade Receivables Discounting System:

- NSE Strategic Investment Corporation Limited (NSICL) and Small Industries Development Bank of India (SIDBI), Mumbai
- Axis Bank Limited, Mumbai
- Mynd Solutions Pvt. Ltd., Gurgaon, Haryana

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